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VCIF - CEF Floating Rate Sector Update: Rates Are Rising Which Should Shine A Light On The Sector
February, 08 2021 06:00 AM
Vertical Capital Income Fund of Beneficial Interest
Floating rate ("loan") securities have been out of favor for more than a year as investors saw interest rates plummet. The loan market looks very compelling relative to high-yield fixed coupon bonds. The avg. price is below par vs. a premium to par for bonds. In addition, we capture a double-discount with loan CEFs as the funds are cheap relative the rest of the taxable bond CEF space. We like PHD, BSL, BGT, and VCIF for various reasons which we discuss at length below. For further details see:
CEF Floating Rate Sector Update: Rates Are Rising Which Should Shine A Light On The Sector
Stock Information
Company Name:
Vertical Capital Income Fund of Beneficial Interest
Stock Symbol:
VCIF
Market:
NASDAQ
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